Question: Without using excel... You purchase a home for 356,000, make a down payment of 140,000, then finance the rest with a thirty-year mortgage at an

Without using excel...

You purchase a home for 356,000, make a down payment of 140,000, then finance the rest with a thirty-year mortgage at an annual effective interest rate of 6.5%. After exactly8 years, you sell the home for 282,000. Closing costs are 3% of the sale price. How much did you receive at closing? (Closing is the act of executing the sale.)

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